Business Final Exam

Business Final Exam - Business Final Exam Stakeholders-...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Business Final Exam Stakeholders - groups that have a stake in the success and outcomes of a business Invisible Hand - allows people to work hard to make more money (capitalism allows this) Supply Curve and Demand Curve - Market equilibrium - were the supply and demands curves cross Capitalism (free enterprise) - an economic system in which individuals own and operate the majority of businesses that provide goods and services Socialism - an economic system in which the government owns and operates basic industries but individuals own most businesses Gross Domestic Product (GDP ) - the sum of all goods and services produced in a country during a year Consumer Price Index - Consumer Demographics - 2 primary ways companies move outside of U.S .- Multinational Companies - weigh the Risk and Reward Ethnocentric - believe U.S. business is superior Starting a Small Business experience Ethnic Check Question - Is it legal, is it balanced, how would it make you feel Management Characteristics - Tactical Planning - short-range plans designed to implement the activities and objectives specified in the strategic plan Strategic Planning - those plans that establish the long-range objectives and overall strategy or course of action by which a firm fulfills its mission SWAT Analysis - Mission Statement- (what it means) an organization’s fundamental purpose and basic
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/04/2008 for the course BUS 1750 taught by Professor Reck during the Spring '07 term at Western Michigan.

Page1 / 3

Business Final Exam - Business Final Exam Stakeholders-...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online